Home Smart 100 2011 MiiBrand (SMART 100)

MiiBrand (SMART 100)

May 5, 2011

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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.

MiiBrand

This innovation initially came to life when…

…a friend of mine came to me 12 months ago with an idea to help fashion retailers target users who had already expressed interest in their brand. Essentially they were fans. We realised that many coupon or daily deal sites bombard users with unwanted offers which often become unmanageable and turn users away. Why not create a mobile app that allows users to pre-select the brands and types of deals they would like to receive? It creates a win-win situation with users receiving targeted offers and brands receiving higher conversion rates.

WHAT & HOW

The purpose of this innovation is to…

…solve the much-publicised problem of declining store traffic for retailers in the Australian market. External factors such as a strong Australian dollar, rising costs, online competition, overseas entrants, group buying, and media fragmentation are all contributing to the problem.

It does this by…

…providing an innovative and flexible website and mobile app that gives clothing retailers the ability to produce highly targeted deals to pre-qualified fans of their brands. Deals are delivered in a Twitteresque micro style and are only redeemable in store. The website and app keeps users engaged by incorporating ‘gamification’ via a points system which builds ongoing loyalty for brands.

PURPOSE & BENEFITS

This innovation improves on what came before because…

…it gives power back to the end-user to control when and how they receive offers from retailers. For marketers, this deals with the growing issue of media fragmentation, allowing them to reach already engaged users at the right place and right time. This results in reduced media wastage and higher conversion and brand loyalty.

Its various benefits to the customer/end-user include…

…highly targeted offers that can even be filtered down to product level. The more a user engages with a brand by actions such as ‘sharing deals’ and ‘checking in’ at stores the more they get rewarded by brands.

COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

…traditional advertising methods that are expensive and result in high levels of media wastage. More recently, group buying sites have taken off and drive store traffic but premium retailers are reluctant to jump on board as they do not want to be perceived as ‘cheap’. Some retailers are creating e-commerce sites but this is another sales channel rather than a solution.

Its predecessors/competitors include…

Traditional advertising channels, email marketing, group buying sites and daily deal sites.

TARGET MARKET

It is made for…

…users aged16-34. They typically represent a culturally diverse mix of young professionals and students. Technology is important to them, as they like to keep up to date with the latest gadgets. They lead a full social life and are often seen out with friends, going to pubs or clubs, concerts, restaurants and for cultural nights out. They are early adopters of new technology and place a high priority on personal appearance, often buying products because of the brand.

Premium clothing retailers looking for a new way to reach consumers in a highly targeted and engaging way.

DISTRIBUTION STRATEGY

It is available for sale through…

…through a face-to-face sales team. Retail brands can contact the MiiBrand team via the web site.

Our marketing strategy is to…

…incentivise users to pre-register for MiiBrand using a dedicated pre-launch web page. All pre-registrations go into the draw to win an iPad2. Public relations and social media will play a large part in building a user base and attracting potential brand partners.

Brands will be contacted via business networks and cold calling for participation.

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